The Chinese economy is blooming and more and more people are becoming billionaires, ready to buy luxury products and services of all kinds. Consequently, the country is rapidly gaining terrain in its race against other giants of the world, especially the US. The luxury goods market is growing in China simply because demand is huge.
A recent report has announced that in the near future (by 2016) China is going to overthrow the US and become the new leading market for luxury cars. According to McKinsey & Co, the Chinese consumers have a simple recipe for their country to become the world’s main seller of premier cars: financial power and a strong desire to flaunt status. In three years’ time, China will reach a staggering 2.23 million high-end car sales, thus surpassing the US.